how is it that the USA has more billionnaires than ever yet the country's debt is in the trillions?

Question

and the middle class and the poor can't afford health insurance, and can't get dental care. What do you suspect is going on?

http://english.people.com.cn/200703/09/eng20070309_355944.html and 82 billionnaires weren't rich enough to make the list. The youngest billionnaire is 33 years old.

DC Bob....say what?

excellent answer Zero1...but...I had health insurance when I was 20, even when I was 5.

Pfo, actually it's 16 percent, and it depends on who you include.

The 38 billionnaires from the US in the top 100 are into things like Microsoft, Oracle, Google, Dell, eBay, Google, Nike, Las Vegas Sands, Walmart, TWA, Enterprise Rent-A-Car, etc. (i.e. a lot of entertainment companies and one retail).

I didn't notice the link from the search engine was from china. What I wanted to pull up was from Forbes which recently said the exact same thing.

Answer 1

Because billionaires are part of the private sector. The Governments economy is independent from personal possession. Are you implying that these billionaires should forfeit their wealth to reduce the deficit? That would be communism.

Answer 2

Wow, what a bunch of weird answers. It makes you really wonder about the future of America.

What a great question though. Simply put, the USA has more billionaires than any other country, or ever, because of two things.

1. We're the closest nation on Earth to capitalism. Notice I didn't say we were capitalists. More on that later.

2. Inflation. The dollar today is worth about 4 cents. So today's billionaire is really only worth $40 million thanks to the owners of the Federal Reserve.

So to say that we have more billionaires than ever is really a statistical lie of sorts because of inflation created by an elastic currency system that creates money out of thin air.

Now to also get to the other side of your question:

The reason the middle class and poor tend to not be able to afford health insurance is also two-fold if not more.

1. 40 years ago there was no such thing as health insurance and patients could afford to pay doctors because the cost of medical care was reasonable. Since the advent of health insurance, HMO's and health insurance companies, the middleman has skyrocketed the price of decent healthcare. If you're looking for a solution get rid of the middlemen.

2. Everything that happens in America, economically and politically, is due to the owners of the Federal Reserve. They are the royalty of this country whether or not your realize that or acknowledge it. Not only do they own the world's most profitable business but they also control, by owning the majority shares of stock, many other corporations.

Every wonder why neither the Democrats, nor the Republicans (each party as a whole that is) support the abolition of the Federal Reserve as a privately owned corporation? Because they are puppets dancing to a tune played by puppetmasters running the show from behind the stage for your viewing pleasure.

Answer 3

It's because the people who have that kind of money aren't in charge of our debt. If our government were run like a profit-making machine, things would be different. Instead, they have people constantly taking advantage of the system they have set up to help the needy. Most people don't want Federal Government involved in health care. Hillary tried to set up something while Bill was in the White House, but most people figured it was to keep her from nosing into Bill's business and placate her at the same time. Puts a different spin on her as a candidate for Prez doesn't it?

The rich are getting richer and the poor are getting poorer. The rich can take advantage of loopholes in the tax codes and the poor people get money returned. Taxes basically come out of the middle class, which is getting smaller due to inflation and the tax codes as well as ridiculously low pay they earn that keeps them just above the poverty level.

Answer 4

1/6th of the country can't afford insurance, or don't have it. Don't believe Hillary's rhetoric: the poor and middle class make up way more than 1/6th of the population.

The upper class is not responsible for paying America's debt, all Americans are.

Answer 5

So because someone is well off they should pay for everything, including all the people who refuse to work? Hmmm...maybe that's part of the reason the goverment is in debt because they are dishing out pay checks to people who can't get off their butt, get a job and contribute to this country.

Oh but the ones who do contribute should pay?

Dumb.

I know Im not working for anyone else but me and my family.

Answer 6

They invest their money in the third world instead of the country that helped them build wealth. Andrew Carnegie started the library system and helped build schools - Bill Gates gave 3 million to India to fight aids.

The rich hate the middle class and want to keep the lower class as poor as possible. They are importing a slave class of illegals.

Answer 7

Take a course in basic Economics. Visit the web site of Walter E. Williams. He is a professor at James Madison University. He or his writing will clear up your clouded vision.

The money and riches held by billionaires do not belong to the US government. If the money and riches could by accessed by Congress, they would spend the money...no matter how much is available, they always spend more than what is taken in.

Answer 8

Because the American dream is to get rich, ideally without doing much work. I saw the latest billionaire got rich by shorting failing loan companies. They really ought to get rid of puts and calls on stock. This guy makes a billion selling short the stock but what does he contribute to society and who pays that billion? It come s out of pockets of poorer, stupider investors - its all a lottery or poker game.

Answer 9

Well when you spend trillions in healthcare costs on undocumeted aliens, ghetto babies and all other drains on society why would any rich person want to give their money to those ungrateful people?

They worked hard to afford their healthcare why should they make it where other people just sit on their *** and get free healthcare? Would you want to?

Answer 10

future spending in the trillions of dollars on external programs such as wars instead of investing that money for internal and economic programs creates a void in the bank. There is no promise of an economic return on external programs. There is a higher chance of returns with internal investment and strengthening programs.

Just because the US has the most billionaires does not mean they invest in US markets. Where is their money going?